Insider Selling: Generac (NYSE:GNRC) Insider Sells $140,800.00 in Stock

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 550 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the sale, the insider owned 15,808 shares of the company’s stock, valued at approximately $4,046,848. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Generac Stock Performance

Shares of GNRC stock opened at $236.36 on Friday. The business’s fifty day simple moving average is $266.88 and its 200-day simple moving average is $217.20. The company has a market cap of $13.91 billion, a PE ratio of 74.10, a PEG ratio of 2.21 and a beta of 1.89. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.47. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $1.26 earnings per share. Analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Argus upped their price target on shares of Generac from $255.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Raymond James Financial set a $302.00 price objective on Generac in a report on Friday, May 22nd. JPMorgan Chase & Co. upped their target price on Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Wells Fargo & Company raised their target price on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Zacks Research downgraded Generac from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.18.

Institutional Investors Weigh In On Generac

A number of large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its stake in Generac by 6.2% during the first quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after acquiring an additional 142 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Generac by 40.9% during the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock worth $638,000 after purchasing an additional 1,463 shares during the period. First Trust Advisors LP grew its holdings in shares of Generac by 27.6% during the 2nd quarter. First Trust Advisors LP now owns 101,298 shares of the technology company’s stock worth $14,507,000 after purchasing an additional 21,908 shares during the period. Cerity Partners LLC increased its position in shares of Generac by 1.6% during the 2nd quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock worth $7,239,000 after purchasing an additional 816 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Generac by 8.6% during the 2nd quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock worth $14,929,000 after purchasing an additional 8,213 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Company Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.